SUBCLASS 188A/888A

BUSINESS INNOVATION STREAM (SUBCLASS 188A) 

GENERAL CONDITIONS:

The applicant and applicant's partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia. 

The applicant and members of the family must meet the requirements in accordance with the interests of Australian society. 

Must be nominated by an Australian State or Territory government agency or Austrade.

BENEFITS 

Carry out business and investment activity in Australia during the provisional visa period. 

Bring eligible members of the applicant's family to Australia. 

The applicant’s children under 18 years old can enjoy tuition fee exemption/reduction at Australian public school from grade 1 to grade 12.

Free English course up to vocational English equivalent. 

ELIGIBILITY 

Be under 55 years of age, if you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit. 

Score at least 65 on the Points test.

Have a successful business career and have business ownership.

You, your partner or you and your partner combined must have total net business and personal assets of at least AUD $1,250,000 and the funds must be available to transfer to Australia within 2 years of granting the visa.

For 2 out of 4 fiscal years immediately before the applicant received the invitation, the applicant must have had an ownership interest in 1 or 2 main businesses that had at least AUD $750,000 turnover in each of those 2 years.

The applicant can stay in Australia for up to 5 years (can apply for additional 2 years extension). 

BUSINESS INNOVATION STREAM (SUBCLASS 888A) 

BENEFITS

Permanently settle in Australia. 

The applicant’s eligible family is also allowed to become permanent residents.

Have an opportunity to apply for dual citizenship - Australian & Vietnamese.

Receive most of the rights and entitlements of an Australian citizen, except for voting rights and work in the Australian Government.

ELIGIBILITY 

The primary holder of visa 188A will qualify for Permanent Visa 888A after 3 years if certain requirements are met. You must have been physically present in Australia for at least 1 year in the 3 years immediately before you apply. 

For the 2 years immediately before applying, you must have an ownership interest in up to two main businesses in Australia; and have a direct and continuous management role in that business or businesses.

Have an annual business turnover of AUD $300,000.

Propose business investment at least AUD $200,000 to AUD $600,000.

And you must show at least 2 of the following:

Net Assets of AUD $200,000 in your main business in Australia;

Total value of personal and business assets in Australia: AUD $600,000.

Equivalent of at least 2 full-time eligible employees in your main business.